02-06-2016

Baltic index remains flat on Wednesday

balticexchange

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, was flat on Wednesday as gains by capesize and handysize vessels were offset by a weaker demand for panamaxes and supramaxes.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was flat at 612 points.

The capesize index gained seven points, or 0.82 percent, at 861 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $3 to $6,541.

The panamax index was down six points, or 1.05 percent, at 568 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $46 to $4,543.

Among smaller vessels, the supramax index fell two points to 578 points, while the handysize index rose four points to 355 points.

Source: Reuters

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